Cardiac biomarkers are biological molecules produced in response to damage or stress to the heart muscle. They are chemical indicators of biological processes present in the blood that can aid in the early detection and prognosis of various heart diseases. Major products include Troponin, Creatine kinase-MB (CK-MB), myoglobin, B-type natriuretic peptide (BNP), and others. Applications include myocardial infarction, congestive heart failure, acute coronary syndrome, and atherosclerosis.

The global cardiac biomarkers market is estimated to be valued at US$ 9836.55 Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The Global cardiac biomarkers market Size is driven by rising prevalence of cardiovascular diseases across the globe. According to World Health Organization (WHO), cardiovascular diseases (CVDs) are the number one cause of death globally, taking an estimated 17.9 million lives each year. CVDs are a group of disorders of the heart and blood vessels and include coronary heart disease, cerebrovascular disease, rheumatic heart disease and other conditions. However, the growth of the cardiac biomarkers market is hampered by high price of cardiac biomarkers and limited reimbursements. Moreover, development of novel cardiac biomarkers would create opportune scope in the market during the forecast period.

SWOT Analysis

Strength: Cardiac biomarkers offer noninvasive diagnostic tests for cardiac conditions like myocardial infarction. Three widely used cardiac biomarkers are troponin, CK-MB and myoglobin that help in early detection of heart damage. Cardiac biomarkers help physicians monitor patients' response to cardiovascular drug therapies.

Weakness: Cardiac biomarkers alone cannot diagnose many cardiac conditions or determine the severity of heart damage. Some conditions like myocarditis can produce false positive troponin results. Recent research is developing newer cardiac biomarkers but they are yet to be validated and adopted in clinical guidelines.

Opportunity: Growing geriatric population worldwide is at high risk of cardiovascular diseases demanding frequent cardiac monitoring. Rapid urbanization and changing lifestyles are fueling cardiac disorders. Developing regions in Asia Pacific and Latin America present new market avenues. Home healthcare cardiac biomarker tests can benefit patients in remote areas.

Threats: Alternative diagnostic technologies like cardiac imaging modalities are continuously evolving. Reimbursement issues in some countries hamper the uptake of advanced cardiac tests. Stringent regulatory approvals and manufacturing standards increase cost of development.

Key Takeaways

The global cardiac biomarkers market is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 9836.55 Mn by 2023, growing at a CAGR of 10%.

North America currently dominates the global cardiac biomarkers market owing to increased incidence of cardiac diseases and availability of advanced healthcare facilities. However, Asia Pacific region is expected to grow at the fastest rate owing to improving access to healthcare services in developing countries like China and India coupled with rising geriatric population.

Key players operating in the cardiac biomarkers market are Abbott Laboratories, F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., Danaher Corporation, Randox Laboratories Ltd., Siemens Healthineers, and BioMérieux SA. These major players are focusing on new product development and geographic expansion into emerging markets through collaborations and mergers & acquisitions to strengthen their market position.

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